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Energy, the State, and the MarketBritish Energy Policy since 1979$
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Dieter Helm

Print publication date: 2004

Print ISBN-13: 9780199270743

Published to Oxford Scholarship Online: May 2010

DOI: 10.1093/acprof:oso/9780199270743.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 19 September 2021

Regulatory Failure and Financial Engineering—The RECs' First Review

Regulatory Failure and Financial Engineering—The RECs' First Review

(p.204) 11 Regulatory Failure and Financial Engineering—The RECs' First Review
Energy, the State, and the Market

Dieter Helm (Contributor Webpage)

Oxford University Press

This chapter looks at the regulation of the regional electricity companies (RECs), and the conduct of the Office of Electricity Regulation (Offer). The repeated interventions — the two attempts at the 1994/95 periodic review, as well as the subsequent payouts from the flotation of the National Grid Company (NGC), and then the windfall tax — represented not only ‘regulatory failures’, but also served to undermine the credibility of the price-cap RPI-X regime.

Keywords:   regional electricity companies, energy policy, electricity regulation, National Grid Company, windfall tax

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